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Michael Jackson Estate

Katherine and MJ's Kids to

Score $30 Million

9/13/2011 4:49 PM PDT BY TMZ STAFF

0913_jacksons_kids_getty_EX_2
A huge development in the Michael Jackson Estate case.  The Executors have done so well making money for the Estate since Jackson died, they want to fund the Michael Jackson Trust to the tune of $30 million for the benefit of Katherine Jackson and Michael's 3 kids.

TMZ has obtained court documents in which co-Executors John Branca and John McClain are asking the court's permission to fund the trust.  According to the docs, the Estate generated more than $310 million in gross revenues as of December 31, 2010 -- that's the latest accounting.

In addition to funding the trust, the Executors are asking the court's permission to sell the longtime family home on Hayvenhurst Avenue in Encino, CA.  According to the docs, Katherine wants to sell the house and, although no price is mentioned, the property was valued at $4,150,000 when Michael died.

The docs say Katherine wants the Estate to purchase another home and she's eying several properties, but we're told the home she really wants is the Calabasas house in which she and the kids are currently living.

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263 COMMENTS

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92.

wayne    

So how much are the executors getting?

harvey and tmz always have heaps of praises on the executors? No questionon their management. Wasnt the Sny cataloue valued at $1billion? How is it that it is just $300m?

Are there detail accouting provided to the family?
And Harvey waht is your relationship with the executors?

Answers are needed.

1043 days ago
93.

Eleonora49    

Phantom I love that song from MJ !!!!!!!!!!!!!!!!Thank you.Danke schön.     

1043 days ago
94.

Eleonora49    

EVERYONE PLEASE GET OFF YOUR LAZY BUTTS AND FIX OUR RECESSION! We have now more than one third of the USA in poverity !!! Michael's lawyers should help us do some pro bono work to save the USA.It's Bad and it gets worse by the Minute!!I want a super good president next time who knows what he is doing.

1043 days ago
95.

Jenny    

Michael's parents and siblings must be so happy that he's finally dead, he's making so much money for them now, after all that is everything he was good to them. Their moneymaker...

1043 days ago
96.

Eisy    

T H O S E K I D S L O O K J U S T A S W E I R D A N D F R E A K Y A S H E D I D!!!!!

1043 days ago
97.

Kathysprings    

*OMG*
I never thought I'd say this but
Paris looks like Katherine Jackson
Prince looks like Katherines father Prince
Blanket looks like Michael.

No matter what.. they are his children..POINT BLANK
and they are RICH,RICH,RICH. AND THIS IS JUST AFTER
2 YEARS.

1043 days ago
98.

Eleonora49    

You can dislike what I wrote as much as you want to, the one third is a fact. It maybe even higher because a lot of people are too proud and worry about their dignity to get help with Food stamps and etc. In a country as big and once so powerful as the USA, to even have this problem is just appalling.Everyone has a right to a liveable, healthy home with health care and work.
All the Money went to Bail out Banks !!And secondly people got cut as we speak: Teachers, Classes for the children (art,music,German,spanish and more) Police are laid off where crime is on the rise since the recession.Postal workers once were Goverment Jobs and run well.Poor and needy are increasing so fast!!And thats just not right.So dont give me the Finger down, you should do that to what's going on right now !!!!!!!!! I just want America to be glorious and strong like it once was.

1043 days ago
99.

Marie    

Kathysprings: 3 hours ago
Maybe Hayvenhurst will become a tourist attraction
like Graceland and all the fans will have an opportunity
to visit Hayvenhurst
------------------------------------------------------------
I would rather visit Neverland.

1043 days ago
100.

Marie    

K: 20 hours ago
So sad Katherine is Selling Hayvenhurst
----------------------------------------------------------
I don't understand why Katherine Jackson wants to sell that house. Hayvenhurst is like a museum with all those memories of her late son Michael when he was a teenager living over there. Maybe the house is damaged and it costs too much to be repaired or something.

1043 days ago
101.

raisethetaxesontherich    

Raise,raise,raise their taxes!

1043 days ago
102.

Kathysprings    

Think about it..They may be selling Hayvenhurst because the person who is going to become the caregiver for Paris,Prince and Blanket after Katheine passes
may want the new house and not the old one.
It may be easier to buy the house now while Katherine
is alive and well.
I am sure they know who that will be, more than likely
a family member, those kids are not going to want to
go with anyone else.
They know what they are doing.

1043 days ago
103.

What I Think    

I hope Blanket is smarter than he looks. Of course, he'd just about have to be.

1043 days ago
104.

Susan62509    

The petition filed by the Executor's to make a distribution does NOT state one word regarding selling Hayvenhurst and buying a new house for Katherine and MJ3. Post the legal docs TMZ just like your competitors do.

1043 days ago
105.
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